TSB savings rates — compare every account, plus switch offers and guides

Who they are

TSB Bank plc is a British retail bank based in Edinburgh, Scotland. Its roots run deep - the first self-supporting savings bank was set up in Dumfriesshire in 1810 to help poor parishioners put money aside for hard times, and by 1817 more than 80 "trustee savings banks," from which TSB takes its name, were operating across Scotland and England. The modern TSB was relaunched as a standalone bank in 2013 after being carved out of Lloyds Banking Group, and ownership has changed hands more than once since then. On 30 April 2026, Santander UK acquired TSB from Sabadell for £2.65 billion. When contacted, Santander denied that any decision had yet been made on the TSB brand, saying the acquisition was about "creating a stronger, more competitive bank in the UK" and that it would "consider carefully how to make the most of the brand value." In short, TSB's future as a named brand is genuinely uncertain - worth keeping in mind if continuity matters to you.

TSB Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the PRA. It is covered by the Financial Services Compensation Scheme.

Savings accounts

TSB offers a broad range of savings options, though the rates vary considerably depending on which account you choose, so it pays to read the detail carefully.

For regular saving, the Monthly Saver pays 5.00% and accepts deposits from as little as £25. If you want flexibility, the Save Well Limited Access Account offers 3.00% variable on as little as £1. The two standard easy access accounts - Easy Saver and eSavings - both sit at 1.00%, made up of a 0.90% base rate plus a 0.10% boost for the first 12 months. Once that boost expires, the underlying rate is noticeably lower, so it is worth diarising a review.

On the fixed-rate side, TSB's 1, 2 and 3 Year Fixed Bonds all pay 4.30%, with no access until maturity and a minimum balance of £1. Cash ISA savers have more to choose from. The 18 Month Fixed Rate Cash ISA pays 4.36%, while both the 2 Year and 3 Year Fixed Rate Cash ISAs pay 4.45% - the highest rates on TSB's savings shelf at the time of writing. The variable Cash ISA Saver pays 1.10% (0.90% base plus a 0.20% introductory boost for 12 months), and the Save Well Limited Access ISA pays 3.00%. For families, the Junior Cash ISA pays 3.15% variable, locked until the child turns 18, while the Young Saver pays 2.75% variable with instant access from £1. Savings Pots sit at 1.55% variable.

All accounts listed here carry FSCS protection up to £120,000 - higher than the standard £85,000 limit that applies at most banks, reflecting the way FSCS compensation is structured for certain account types.

Switching to TSB

There are currently no switch offers or cash bonuses listed for TSB. If that changes, the live figures on this page will show it. TSB operates a network of 175 branches as of 2025, which gives it more of a physical presence than many challengers, and it can be reached via branch, phone, and app.

Is it right for you?

TSB is worth a look if you want a fixed-rate bond or cash ISA with a competitive rate and are comfortable locking money away. The Monthly Saver at 5.00% is also one of its stronger offers for disciplined savers who can put money aside regularly. Where TSB is less compelling is on easy access - the headline rates on the Easy Saver and eSavings accounts drop once any introductory boost ends, and there are better easy access rates available elsewhere. The ownership situation with Santander adds a degree of uncertainty about the brand's long-term future, though your savings and FSCS protection are unaffected by corporate changes.

As always, rates change - check the live figures shown on this page to make sure what you see here still holds before you apply.